Entertainment company Lucasfilm is winding down operations in Singapore after almost two decades here due to economic factors affecting the industry, said parent company Disney.
“Over the next several months, Industrial Light & Magic will be consolidating its global footprint and winding down its Singapore studio due to economic factors affecting the industry,” said Disney, in response to media queries on Tuesday.
IMDA and EDB noted that the global media industry is “facing disruption from rapid technological advancements, while studios are coping with challenges relating to talent and profitability”. In 2006, ILM expanded its operations beyond its San Francisco headquarters and opened its first international studio in Singapore. It now has studios in Vancouver, London, Sydney and Mumbai.
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